Explain determining the types of the various products
Explain determining the types of the various products that will be produced?
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Consumer sovereignty is the key to determining the types and quantities of the various products that will be produced. “Dollar votes” for a product when purchases are made and “dollar votes” against a product when products are ignored will determine which industries continue to exist and which individual products survive or fail.
Explain increased global competition?
What are economic resources? What are the major functions of the entrepreneur?
Describe the Promoting stability?
Janet has loaned a start-up coffee house $50,000 and predicts to earn interest from her financial investment. In circular flow model this transaction is an illustration of: (1) An exchange of her saving for interest, via a resource market for the economic capital. (2)
Fiscal Policy:Public or government finance is a field of economics. This deals with budgeting the revenues and expenditures of government (i.e., or public sector). It is regarding the identi
After agonizing regarding whether to buy a hot dog or a hamburger along with his last dollar while he goes to the fair, Jeeter at last chooses the hot dog. The hamburger shows Jeeter's: (i) normative choice, because it would be more nutritious. (ii) opportunity cost o
need urgent help in business economics, please suggest
Give a brief introduction of the term Control Factor?
Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good. Answer:
Suppose you go to a recycling center and are paid 25 cents per pound for your aluminum cans. However, the recycler charges you $.20 per bundle to accept your old newspapers.
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